Tuesday, May 22, 2007

GemTradeNet.com recently visited the Chantaburi Gem Trade Center located in the the provincial town of Chantaburi in eastern Thailand. Chantaburi seems an unlikely center for international commerce of any description, but a combination of factors has earned it a solid reputation as one of the most important gem-trading capitals of the world. Located some 250 kilometers from Bangkok, the town owes its prominence to the nearby presence of a legendary gem mountain known as the Khao Ploei Waen. In the past sapphires and rubies littered the ground there in such quantities that village children used them as marbles or smashed them into pieces for the pleasure of making colored sparks fly. It was this treasure trove that put Chantaburi firmly on the map as one of the world's top gem-trading locations, an accolade it still merits today. The local gem traders' association estimates that today at least 80 percent of the world's rubies and sapphires transit Chantaburi at one stage or another on their journey from the mine to the retail outlet.

The nerve center of Chantaburi's gem trade is the Talaat Ploei, or gem market, located in the heart of the old town. The market, an informal collection of open-fronted shophouses at the intersection of Si Chan and Thetsaban streets, operates on weekends from Friday to Sunday. Thousands of dollars' worth of gems lie scattered on the tables, and African, Indian and Sri Lankan dealers mingle with Thai, Chinese, Japanese and even the occasional Western buyers.

Typically from the mine to the end consumer a gemstone changes hands at least seven times, and jumps in price a thousand percent. Even between Chantaburi and Bangkok the price difference can vary by up to 30 percent. Huddled at rickety tables with jeweler's loupes screwed into their eyes, the buyers rent space at one of the shophouses and put up a sign listing the gems they are interested in acquiring. Sellers patiently line up to present their stashes and eye the stones of the competition. It all seems very amicable with no raised voices, just quiet bargaining that leads to a deal being refused or concluded with a handshake.

GemTradeNet.com met with the local Gem Traders and gave them useful insights as to how GemTradeNet.com can help them to grow and compete over the internet. The GemTradeNet.com sales and Marketing team distributed brochures and introduced the novel ideas proposed through the Gem Trade Network.

Gem Traders in the packed weekend market were given a brief on the innovative features included in its Gemstone search and Gemstone listings. Also highlighted during these presentations was the recently launched Auctions feature,and the various modes by which Gemstone sellers can benefit from these selling tools.

Wednesday, May 9, 2007

From Kohinoor to modern day fancy stones, diamonds have caught the imagination of old and young. Diamonds are indeed forever. But how much do you know about diamonds?

1. What are diamonds composed of ?

Diamond is carbon in its most concentrated form. Except for trace impurities like boron and nitrogen, diamond is composed solely of carbon. Extremes of clarity can produce a brilliant magnificent diamond, or a dead, dull, and lifeless stone. Most diamonds are over three billion years old.

2. In which country was diamond first mined?

Diamond was first mined in India and the earliest known reference to diamond is found in Sanskrit manuscript, the Arthasastra. As a matter of fact, India was the predominant source for over 2,000 years, until the mid-eighteenth century.

3. Which city first started diamond trading?

Diamond trading first started in Venice. By 1499, Portuguese navigator Vasco da Gama discovered the sea route to India around the Cape of Good Hope and Goa was set up as the Portuguese trading centre. A diamond route was subsequently developed from Goa to Lisbon to Antwerp.

4. 80 per cent of diamonds mined annually are used in:

Since diamond is the hardest substance, it is used to cut, grind, and polish most hard substances.

5. Which is known as the 'Diamond City'?

Seventy per cent of the world's diamond trading is done in Antwerp. After Antwerp, New York, Tel Aviv and Mumbai are the most important diamond centres of the world. Near the central station, a half hour's journey from the Brussels airport is the Antwerp Diamond Center, which stretches over one square mile and houses 1500 diamond companies and 4 diamond bourses.

Wednesday, May 2, 2007

In 2007, GemTradeNet.com has taken its innovation and technological ingenuity to new heights. Having already earned the unique distinction of being a pioneer of the online B2B Gems and Jewelry marketplace, GemTradeNet.com is constantly striving to introduce new features and tools to streamline buying and selling. It is with this vision and mission GemTradeNet.com has launched the Auctions category.

Online gem and jewelry auctions are a very popular way of selling over the Internet. Sellers can add items to the auction listings by choosing a starting bid price, a reserve price and a Buy it Now price. All auction listings are featured in the main category pages, as well as in the Auctions section. Buyers view the details and can enter their bids to participate in the auction. Sellers can choose the number of days they wish to run the auction, and also schedule it for a particular date and time.

Also added in 2007 are the new look product listing and product detail pages. The real time search function allows buyers to easily find the exact gemstones, diamonds or jewelry items they need. Seller information together with the product details and three high quality images make up the product details page. The seller can also add his selling policies, which are then displayed for each individual listing. Registration for Buyers and Sellers is free, and GemTradeNet.com offers sellers a sliding transaction fee scale ranging from as low as 1.50% to 4.50%. To enhance the buying and selling experience comes the modified "My Account" which serves as the command and control centre for all buyers and sellers. They can manage their sales and purchases, edit their product listings and also respond to messages from potential buyers, all from within their member account on GemTradeNet.com.

All these new features were launched during the recently concluded Bangkok Gems and Jewelry Fair held at Bangkok, Thailand from the 28th of Feb to the 4th of March 2007.

Mr.Anil Oberoi, CEO of GemTradeNet.com remarked, "We have constantly tried to understand the point of view put forward by Gemstone and Jewelry buyers & sellers, and as a result we have introduced new features and tools. The feedback we have been receiving has enabled us to offer better solutions which are user friendly and cater to the specific needs of the Gemstone and Jewelry industry. In the future we are looking towards offering members more advanced tools and solutions which will assist them to run their online campaigns on GemTradeNet.com much more effectively."

Currently on GemTradeNet.com there are more than 500 registered members from the Gems and Jewelry Trade. The product sections for Gemstones, Diamonds and Jewelry feature a sizable collection of high quality products and more are being added each day. Buyers worldwide can access and view the product listings online at GemTradeNet.com.Contacting sellers for product enquiries and buying products can all be done with a few clicks. GemTradeNet.com is playing a vital role in revolutionizing the Gems and Jewelry Industry.